FAIR VALUE OPTION (Tables)

9 Months Ended

Sep. 30, 2016

Summary of Financial Instruments for Which Fair Value Option Has Been Elected

The following table summarizes the financial instruments for which the fair value option has been elected:

	September 30, 2016		December 31, 2015
Assets
Loans and Receivables	$	75,901	$	261,994
Equity and Preferred Securities		292,766		280,879
Debt Securities		13,841		15,176
Assets of Consolidated CLO Vehicles
Corporate Loans		3,857,058		3,087,563
Corporate Bonds		473,275		379,000
Other		24,627		—
	$	4,737,468	$	4,024,612
Liabilities
Liabilities of Consolidated CLO Vehicles
Senior Secured Notes	$	4,263,747	$	3,225,064
Subordinated Notes		184,475		98,371
	$	4,448,222	$	3,323,435

Realized and Net Change in Unrealized Gains (Losses) on Financial Instruments on Financial Instruments on Which Fair Value Option was Elected

The following table presents the Realized and Net Change in Unrealized Gains (Losses) on financial instruments on which the fair value option was elected:

	Three Months Ended September 30,
	2016						2015
	Realized Gains (Losses)			Net Change in Unrealized Gains (Losses)			Realized Gains (Losses)			Net Change in Unrealized Gains (Losses)
Assets
Loans and Receivables	$	—		$	298		$	—		$	(1,235	)
Equity and Preferred Securities		27			10,200			(36	)		(3,749	)
Debt Securities		—			(281	)		—			(342	)
Assets of Consolidated CLO Vehicles
Corporate Loans		16,672			33,071			2,578			(38,888	)
Corporate Bonds		(662	)		7,491			(988	)		(4,578	)
Other		(2,643	)		—			1,003			(305	)
	$	13,394		$	50,779		$	2,557		$	(49,097	)
Liabilities
Liabilities of Consolidated CLO Vehicles —
Subordinated Notes	$	—		$	(56,690	)	$	—		$	34,235

	Nine Months Ended September 30,
	2016						2015
	Realized Gains (Losses)			Net Change in Unrealized Gains (Losses)			Realized Gains (Losses)			Net Change in Unrealized Gains (Losses)
Assets
Loans and Receivables	$	—		$	(2,395	)	$	—		$	(1,832	)
Equity and Preferred Securities		(266	)		11,624			(273	)		(11,240	)
Debt Securities		—			(1,335	)		—			(342	)
Assets of Consolidated CLO Vehicles
Corporate Loans		(12,288	)		70,592			(2,269	)		1,993
Corporate Bonds		(225	)		6,548			(867	)		(62	)
Other		(2,377	)		—			4,276			(3,636	)
	$	(15,156	)	$	85,034		$	867		$	(15,119	)
Liabilities
Liabilities of Consolidated CLO Vehicles —
Subordinated Notes	$	—		$	(58,558	)	$	—		$	23,997

Information for Financial Instruments on Which Fair Value Option was Elected

The following table presents information for those financial instruments for which the fair value option was elected:

	September 30, 2016							December 31, 2015
				For Financial Assets Past Due (a)							For Financial Assets Past Due (a)
	Excess (Deficiency) of Fair Value Over Principal			Fair Value		Excess of Fair  Value Over Principal		(Deficiency) of Fair Value Over Principal			Fair Value		(Deficiency) of Fair Value Over Principal
Loans and Receivables	$	(11,587	)	$	—	$	—	$	(8,845	)	$	—	$	—
Debt Securities		(1,761	)		—		—		(426	)		—		—
Assets of Consolidated CLO Vehicles
Corporate Loans		3,330			—		—		(77,900	)		1,088		(5,620	)
Corporate Bonds		(2,111	)		—		—		(6,046	)		—		—
	$	(12,129	)	$	—	$	—	$	(93,217	)	$	1,088	$	(5,620	)

(a) Corporate Loans and Corporate Bonds within CLO assets are classified as past due if contractual payments are more than one day past due.